Principles of marketing/PMKT101/Segmenting markets target audiences/Required reading 1

Segments

“	Suppose you have an idea for a great new offering you hope will become a hot seller. Before you quit your day job, you’ll need to ask yourself, “Does my idea satisfy consumers’ needs and add value to existing products?” “Who’s going to buy my product?” and “Will there be enough of these people to make it worth my while?”	”
—Saylor, Chapter 5

Segmenting and targeting your markets

1. Read these extracts from our two textbooks:
   • Targeted marketing versus mass marketing from Saylor's Principles of Marketing
     • This section explains the difference between mass marketing and targeted marketing and why many companies engage in targeted marketing today.
   • How markets are segmented from Saylor's Principles of Marketing
     • This section shares strategies for segmenting a market.
   • The Segmented Market (p.45-64) (pdf) from John Burnett's Core Concepts of Marketing
     • This extract also looks at segmenting strategies.
2. Post a WEnote to share your thoughts about the importance of Market Segmentation and targeting, and read the posts from others on the Course Feed page. For example:
   • Targeted marketing has the benefit of ...
   • Segmenting the market enables ...

Note: Your comment will be displayed in the course feed.